Good morning, ! It’s Wednesday and today we dive into the luxury furniture insurance market. Global cyber crime cost $9.2T in 2024, and insurance keeps outpacing income.

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DATA DIVE

The $671M Furniture Clause

You insure your Ferrari. You insure your Renoir. Now, it’s time to insure your Eames chair. The Luxury Furniture Insurance Market is on pace to hit $671 million by 2032, mirroring a $45B global luxury furniture boom. Drivers? Booming construction, rising retail furniture spend (+58% and +32%, respectively, in the U.S.), and HNW clients who treat furniture like portfolio assets. This niche is riding the same underwriting logic as fine art and vintage cars—with premiums pegged at 1–2% of asset value. Markets like the U.S. and UK lead in both demand and insurance maturity, while China and Brazil bring the volume, not the infrastructure (yet). The opportunity: white-glove underwriting for walnut credenzas. (Read or Listen to Full Report)

TREND OF THE WEEK

When Insurance Outpaces Income

Here's a bleak stat: even if incomes grow 4% annually through 2030, affordability still gets worse. Why? Because insurance and taxes are ballooning faster than paychecks. From $4K to $12K annually, non-mortgage housing costs are crushing homeownership dreams—especially in states like Nebraska and Minnesota. For the insurance sector, it's both a warning sign and a monetization opportunity. Choose wisely. (More)

PRESENTED BY BUILD WEALTH

WSJ Bestselling Author Walker Deibel’s BuildEnergy Fund Leverages 4-Decade Track Record (Over 80% Subscribed!)

​B​uildEnergy Fund I is officially open to accredited investors​! This $100 million cashflowing fund offers family office terms and 30%+ IRR to its investors. 

Why ​i​nvest? ​Walker Deibel, the serial entrepreneur, WSJ bestselling author, and founder of Build Wealth sees this fund as hitting all facets of his Growth Predictor Framework:

• Experienced Operating Team – A 4-decade / 6-fund track record of strong returns, including IRRs averaging 50%

• Attractive Returns – Prior fund is already cash flowing 15% cash-on-cash, and estimated 35% IRR only 18 months in.

• Institutional-Level Terms – Direct access to a $5M family office buy-in structure, reflecting a 7% immediate paper gain on a minimum $50,000 investment.

• Focused Sector Approach – A strategic, supply / demand imbalance play, acquiring $100 million roll-up of oil wells during a buyer’s market.

​If you’re an accredited investor, you can get access to the data room here:

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For questions, reach out to Mike Brown, Head of Investor Relations: [email protected]

MARKET MOVERS

INSURTECH CORNER

Identity Theft? InsurTech Match

Cybercrime is costing the world $9.2 trillion in 2024, projected to hit $15.6 trillion by 2029—a 70% surge that insurers can’t afford to ignore. With 80% of attacks leveraging identity-based methods and 99% of security leaders bracing for an identity-related breach this year, IAM (Identity Access Management) is no longer optional. As the average data breach costs $4.45M, proactive cyber risk strategies are now a core part of the insurance value chain. (More)

DEAL OF THE WEEK

JMG Group Accelerates UK Expansion with Trio of Strategic Acquisitions

JMG Group isn’t slowing down its M&A momentum, closing three separate deals through subsidiaries GS Group, Greenwood Moreland, and Lighthouse Risk Services.

• GS Group snapped up W K Insurance, a commercial brokerage with a 40-year Scottish footprint. Scott King steps in as managing director, ensuring a smooth leadership transition with founder Kevin King staying on in a support role.
  

• Greenwood Moreland acquired York-based UKI Direct, adding £2.5M in GWP and bolstering SME capabilities across seven UK locations. Ian Donald will helm leadership as part of the succession plan.
  

• Lighthouse formalized its relationship with TSE Solutions Ltd, strengthening its health and safety risk management offering, with Antony Eckersley continuing in a client-facing role.
  

JMG Group CEO Nick Houghton emphasized that these acquisitions align with the group’s model: backing local leadership with centralized funding and operational muscle. After placing over £350M in GWP in 2024 and completing more than 20 deals last year, JMG isn't hitting the brakes, more transactions are already in the pipeline for 2025.

Bottom line: JMG Group is betting big on decentralized growth—and building a national powerhouse in the process. (More)

TOGETHER WITH ENTREPRENEURIAL CAPITAL

Investing in Profitable, "Boring" SMBs: Entrepreneurial Capital Fund I

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We pay 3-5x earnings multiples for businesses with low customer concentration, low CapEx, and low cyclicality. Target companies typically have $1m - $2m/year in earnings, with long track records of stable profitability.

The GP founded and grew a 65-person marketing agency over the past nine years, did a successful SMB acquisition himself, and has invested personally in many SMB acquisition transactions before starting this fund.

Small, agile $10m fund, already 90%+ raised 2.5 months into fundraising. $1m personal investment from the GP.

$100k minimum check, accredited investors only.

Learn more at entrepreneurialcapital.com/investors or schedule a call with the GP using the link below.

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MACROECONOMICS

Monetary Chess: How the Fed and Wall Street Play the Rate Signal Game

Interest rate policy isn’t just economics—it’s strategy. Think of it as a high-stakes signaling game, with the Fed as the sender, markets as the decoder, and investment banks as the most sophisticated players on the board.

When the Fed moves rates, it's less about the immediate impact on liquidity and more about what that move implies. A hike can signal confidence or inflation fears. A cut? Either soft-landing engineering or incoming slowdown. The market’s job is to decode the signal under imperfect information—and it’s a game played in loops, not one-offs.

For bankers and asset allocators, this isn’t just macro theory—it’s operational. Investment desks analyze Fed language, actions, and even historical consistency to gauge hidden signals. Deviations from prior patterns (like easing in a strong labor market) raise red flags—and portfolios adjust in real-time. (More)

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TWEET OF THE WEEK

"Your most unhappy customers are your greatest source of learning."

Bill Gates